CHAP. 316.—An ACT to authorize the board of supervisors of Wise county
to invest, use and apply any part of the sinking fund created and set
apart for the purpose of redeeming the principal of the $700,000
issue of thirty-year Wise county road bonds, dated February 1,
1911, in and to the purchase and holding of any part or parts of the
$140,000 issue of thirty-year Wise county road bonds issued for the
Kichmond magisterial district, dated March 1, 1914; and in and to
the purchase and holding of any part or parts of the $130,000 issue
of thirty-year Wise county road bonds issued for the Gladeville mag-
isterial district, dated March 1, 1913. (H. B. 530.)

Approved March 20, 1916.

1. Be it enacted by the general assembly of Virginia, That
the board of supervisors of Wise county in addition to the
power and authority now vested in it by law for investing, using
and applying the sinking fund created and set apart to redeem
the principal of the seven hundred thousand dollar ($700,000)
issue of thirty-year Wise county road bonds, dated February
first, nineteen hundred and eleven; shall have the further power
and authority to invest, use and apply any part of the said sink-
ing fund so created and set apart in and to the purchase and
holding of any part or parts of the one hundred and thirty
thousand dollar ($130,000) issue of thirty-year Wise county
road bonds issued for the Richmond magisterial district, dated
March first, nineteen hundred and thirteen; and in and to the
purchase and holding of any part or parts of the one hundred
and thirty thousand dollar ($130,000) issue of thirty-year Wise
county road bonds issued for the Gladeville magisterial district
dated March first, nineteen hundred and thirteen.

2. All of said district bonds so purchased and held shal
become and be part and parcel of said sinking fund created anc
set apart to redeem the principal of the said seven hundred thou
sand dollar ($700,000) issue of thirty-year Wise county roac
bonds, dated February first, nineteen hundred and eleven. So
long as said board of supervisors of Wise county shall hold said
district bonds so purchased in and as a part of the said sinking
fund, interest shall be paid thereon and set apart to the credit
of said sinking fund out of the taxes levied to pay the interest
on the said district bonds issued for the said Richmond magis-
terial district or the said Gladeville magisterial district; but
nothing in this act contained shall prohibit the said board of
supervisors of Wise county from purchasing and paying for any
of said bonds so held out of and with the funds set apart as a
sinking fund for the payment of the principal of said district
bonds, respectively, as provided by law, provided such purchase
is made at not less than par and accrued interest.

An emergency existing by reason of the fact that the
board of supervisors of Wise county now has certain sums of
money to the credit of said sinking fund for the retirement of
said seven hundred thousand dollar ($700,000) road bond issue
which it desires to invest; and, whereas, the said board of super-
visors of Wise county is unable to purchase any of the said
seven hundred thousand dollar ($700,000) issue of bonds, and,
therefore, deems it to the best interest of the county to invest
the said sums to the credit of the said sinking fund in the pur-
chase of said Wise county district road bonds, which it can pur-
chase at a reasonable price under the provisions of this act, the
same shall be in force from its passage.